Gold Rises As North Korea Rattles Investors

Gold futures closed higher in the domestic market on Tuesday boosted by haven demand after North Korea spooked investors by test-launching a long-range missile that the regime claims can reach anywhere in the world.

The feat could be a major advance for the isolated nation in its attempt to threaten the U.S. with a nuclear weapon. Also, a steadying U.S. dollar and equity market and mostly upbeat economic data added pressure to gold futures for the session.

At the MCX, gold futures for August 2017 contract ended at Rs 28096 per 10 grams, up by 0.04 per cent, after opening at Rs 28,073 against a previous close of Rs 28,086. It touched the intra-day high of Rs 28,213.

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Suhani Verma

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